GasBuddy News Article

30

votes

By the Numbers: $4 Billion

WhiteHouse
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Oil companies receive $4 billion every year in taxpayer-funded subsidies, despite continually bringing in record high profits. Meanwhile, gas prices are on the rise—just like they were this time last year—and the same people funding those subsidies are paying more at the pump for the gas they need to get to school and work.

In his State of the Union, President Obama introduced an all-of-the-above strategy that develops every available source of American-made energy. This includes everything from tapping our offshore oil supplies and vast natural gas reserves, to doubling down on clean energy resources like wind and solar power, to developing new technologies that help us use less energy altogether.

.Another Omaba Lie! Most of the breaks to Oil Companies come in the form of Tax Deductions not Subsidies, more over why shouldn't they get some breaks when their industry PAYS the most taxes!

Exxon alone pays over One Million Dollars an HOUR in taxes which came out to 9.2 Billion Dollars in taxes paid in 2011! This does not include the money they collect for the State, Local, and Federal Governments in taxes on each gallon of gasoline sold. This is also just an example of one Oil Company, so I think $4 Billion in tax breaks spread over many Companies that on average each pay OVER $10 Billion a year in Federal Taxes really isn't a big deal when Obama is giving $1.2 Billion to GE alone without paying ANY taxes and $6.7 Billion to Obama Motors also without paying ANY taxes. How about ending those completely taxpayer funded tax breaks!

The Liar in Chief hard at work thinking who to blame so we will stop looking at all the money he gives and throws away!

Get rid of all subsidies. Especially with the national debt out of control. The problem is the current regime will take it from one group and give it to another. The only difference between the parties is where the money goes.

The government should give us more details about what the $4 billion is about. Some may be needed, and some may be wasteful. Just blaming big oil companies is plain politics. Is it all going to big oil companies?

Cut THE CRAP either do something about the prices of fuel or pack your bags because that is going to make or break OBAMA if he can lower prices or not. I will bet money on it ......................... not just taking credit for all either when he directly has nothing to do with it ..OH and Stop wasting money flying around needlessly!!!!!!!! THIS IS MY OPINION!!!!

This is typical political spin. If the government is taking less from you in taxes, it is a subsidy. This is a far cry from the billions wasted on pet energy projects by the White House. The oil companies are getting some tax breaks and these are "subsidies" in the minds of the Democrats, similar to freezing the rise in government expenditures is a "cut". In their minds the money is already spent so no increase is a cut in spending.

Wonder how much of the $4 billion gets funnelled back into campaign coffers? Maybe this is really just congress' way of funding their re-election campaigns. That would explain why they don't repeal these subsidies!

Oh come on, this is all lies, he is trying to get reelected. Have all the Obama supporters forgotten all his promises he didn't keep nor intended to keep when he ran for president. He is just plain out right lying and deceiving people with half truths or even no truth to it. IT"S A OBAMA SCAM!!